iruntodrink
Sapphire
Mostly namaste. A little bit fuck you.
Posts: 4,579 Likes: 22,616
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Post by iruntodrink on Mar 7, 2021 21:09:57 GMT -6
I am super unimpressed with these rural red state governors spiking the football saying they did a great job handling Covid and NY/NJ bungled it. If you can't understand why densely populated areas had more spread of a highly communicable aerosolized disease, I don't really know what to say. Also, 1/4 of the entire population of ND was infected and that's probably the least densely populus state second to Montana. So...... (Sorry 4Privetdrive). They like to pass the blame off on others. GOP is the party of no responsibility, unless you are a minority or poor. Then it's all on you. frankly they need to start using that as a slogan. Slap it on their bumper stickers.
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beaf12
Silver
Posts: 424 Likes: 2,056
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Post by beaf12 on Mar 7, 2021 21:15:29 GMT -6
😂 I commented on this picture of Sherrod Brown and tagged Rate my Skype room and they rated it! 😂
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clucky
Opal
Posts: 7,826 Likes: 32,855
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Post by clucky on Mar 7, 2021 21:33:19 GMT -6
This part? What is this about? Families with 2021 adjusted gross income below $40,000 on a single return, $50,000 on a head-of-household return and $60,000 on a joint return would not have to repay any credit overpayments that they get. On the other hand, families with 2021 adjusted gross incomes of at least $80,000 on a single return, $100,000 on a head-of-household return and $120,000 on a joint return would need to repay the entire amount of any overpayment when they file their 2021 tax return next year. And families with 2021 adjusted gross incomes between these thresholds would need to repay a portion of the overpayment. From here www.kiplinger.com/taxes/602378/senate-passes-3000-child-tax-credit-for-2021That is in regards to overpayments, not the credit itself. 50% of the credit will be paid between July and December. They are saying if you get a payment and shouldn’t, but are below those limits, you won’t have to pay it back. I want my brain to understand, but I am struggling.
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Post by yankees21 on Mar 7, 2021 23:10:17 GMT -6
That is in regards to overpayments, not the credit itself. 50% of the credit will be paid between July and December. They are saying if you get a payment and shouldn’t, but are below those limits, you won’t have to pay it back. I want my brain to understand, but I am struggling. Lurker here, but I'm a tax preparer. How it seems to me is this is mostly going to affect those that switch off claiming kids, or similar. So if you claimed a child in 2020, you could potentially get some monthly payments for them in 2021 but then not actually claim that child on 2021 taxes, so that would need to be paid back unless under the threshold from the above article. I was thinking I saw though that one might not have to accept the payments monthly, so you could choose not to do so if you knew you wouldn't actually be claiming that child in 2021.
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clucky
Opal
Posts: 7,826 Likes: 32,855
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Post by clucky on Mar 8, 2021 10:21:08 GMT -6
I want my brain to understand, but I am struggling. Lurker here, but I'm a tax preparer. How it seems to me is this is mostly going to affect those that switch off claiming kids, or similar. So if you claimed a child in 2020, you could potentially get some monthly payments for them in 2021 but then not actually claim that child on 2021 taxes, so that would need to be paid back unless under the threshold from the above article. I was thinking I saw though that one might not have to accept the payments monthly, so you could choose not to do so if you knew you wouldn't actually be claiming that child in 2021. Thank you for explaining and posting. My brain tends to grasp concepts once I have a real situation to attach it to.
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